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CRA confirms closing on Country Haven Motel as public commenter questions appraisals; property manager reports four tenants late on July rent
Summary
Margate CRA staff said closing is scheduled for the Country Haven Motel at 1100 N. State Road 7; a public commenter alleged appraisals were below the purchase price. The CRA's property manager reported four tenants were late on July rent as of the July 8 meeting.
The Margate Community Redevelopment Agency said on July 8 it is scheduled to close on 1100 North State Road 7, known as the Country Haven Motel, and heard public comment criticizing the purchase price and appraisal timing.
A member of the public who identified himself as Mr. Kraljek, a Margate resident, raised concerns during the public-comment period and questioned the CRA's $3,800,000 purchase of a motel property. He said appraisals he referenced were lower than the purchase price, stating the executive director had…
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